- Credit Agricole’s fourth-quarter net income reached €1.69 billion, marking a 27% growth year-over-year and surpassing the estimated €1.41 billion.
- Large Customers division net income was slightly down by 2.5% year-over-year at €512 million, but still exceeded the forecasted €461.1 million.
- Asset Gathering net income increased by 27% to €695 million, outperforming the estimated €631 million.
- Specialized Financial Services net income fell by 43% to €124 million, missing the expected €152.5 million.
- French Retail Banking net income rose by 13% to €183 million, surpassing the anticipated €158.3 million.
- International Retail Banking saw a significant 53% increase in net income, reaching €158 million, though it missed the projection of €167.9 million.
- Revenue climbed 17% year-over-year to €7.09 billion, above the expected €6.56 billion.
- CIB and Asset Servicing revenue increased by 8.9% to €2.11 billion, slightly exceeding the forecast of €2 billion.
- Asset Gathering revenue rose 32% to €2.05 billion, higher than the estimated €1.89 billion.
- Specialized Financial Services revenue grew by 4% to €915 million, ahead of the estimated €875.2 million.
- French Retail Banking revenue showed a marginal increase of 0.1% to €960 million, slightly below the forecasted €974.6 million.
- International Retail Banking revenue decreased by 0.5% to €969 million, missing the expected €996.5 million.
- Operating expenses were up 5.6% year-over-year at €3.92 billion, higher than the anticipated €3.79 billion.
- Provision for loan losses rose by 35% to €594 million, exceeding the estimation of €507.5 million.
- The cost/income ratio, excluding SRF, improved to 55.2% from 61.4% year-over-year, and beat the expected 58.1%.
- For 2024, the dividend per share is set at €1.10, surpassing the estimated €1.06.
- All financial targets for the 2025 ambitions plan have been exceeded as of 2024.
- CEO Philippe Brassac stated that the bank is awaiting the Italian government’s stance on Unicredit’s offer for Banco BPM before deciding its next steps.
- The bank will announce a new medium-term plan for 2026-28 by the end of the year, with the 2025 guidance remaining unchanged.
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A look at Credit Agricole Sa Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Credit Agricole S.A. shows a positive long-term outlook. The company scores high in areas such as Dividend and Momentum, indicating a strong performance and growth potential. With a solid Value score and good Growth prospects, Credit Agricole S.A. demonstrates stability and room for expansion in the future. However, the Resilience score is relatively lower, suggesting some susceptibility to market fluctuations. Overall, the company’s scores point towards a favorable outlook supported by strong dividend payouts and growth opportunities.
Credit Agricole S.A. is the lead bank within the Credit Agricole Group, playing a vital role in overseeing the Group’s sales and marketing strategies while maintaining liquidity and solvency for each of the Caisses Regionales. The company, along with its subsidiaries, specializes in designing and managing financial products primarily distributed through the Caisses Regionales. With a solid foundation and high scores in key areas, Credit Agricole S.A. positions itself as a promising entity with a focus on delivering value and sustainable growth in the financial market.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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